Africa Insurance Company (AIC) is a privately owned Professional Insurance Company established in 1994 in accordance with the Licensing and Supervision of Insurance Business Proclamation No.8/1994, and the commercial code of Ethiopia.

The company is set up with fully paid-up capital of 30 million Ethiopian Birr. The capital is divided into 30,000 ordinary shares, each with a par value of 1000 Ethiopian Birr. The capital base AIC utilizes makes it the Strongest Private Insurance Company in the Country. Although AIC is a Young Company, its personnel who are implementing the day-to-day activities of the company are highly qualified in their particular job assignments which has enabled it to provide effective service to its clients. The Corporate Motto "Committed to Excellence and Quality Services" has been adapted immediately on commencing its operation, as a guiding principle in all aspects of AIC’s activities.